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Sep 30, 2024
SS&C Q3 2024 Earnings Report
SS&C's Q3 2024 earnings were released, showcasing revenue growth and strong adjusted earnings per share.
Key Takeaways
SS&C Technologies reported a 7.3% increase in both GAAP and adjusted revenue, reaching $1,465.8 million and $1,466.8 million respectively. The company's adjusted EPS increased by 10.3% to $1.29, and GAAP EPS increased by 6.6% to $0.65.
GAAP Revenue and Adjusted Revenue grew by 7.3 percent.
Adjusted Organic Revenue Growth was 6.4 percent, and Financial Services Recurring Revenue Growth was 7.2 percent.
SS&C repurchased 1.2 million shares for $89.4 million, at an average price of $72.72 per share.
GAAP net income attributable to SS&C was $164.4 million, up 5.4 percent, and adjusted consolidated EBITDA attributable to SS&C was $566.2 million, up 6.0 percent.
SS&C
SS&C
SS&C Revenue by Segment
Revenue by Segment
Software-enabled services Revenue
CapyFin.comLicense, maintenance and related Revenue
CapyFin.com Forward Guidance
SS&C provided guidance for Q4 2024 and FY 2024, including adjusted revenue, adjusted net income, interest expense, adjusted diluted earnings per share, cash from operating activities, capital expenditures, diluted shares, and effective income tax rate.
Positive Outlook
- Q4 2024 Adjusted Revenue: $1,460.0 – $1,500.0 (in millions)
- FY 2024 Adjusted Revenue: $5,815.0 – $5,855.0 (in millions)
- Q4 2024 Adjusted Net Income attributable to SS&C: $329.0 – $345.0 (in millions)
- FY 2024 Adjusted Net Income attributable to SS&C: $1,299.0 – $1,315.0 (in millions)
- Q4 2024 Adjusted Diluted Earnings per Share attributable to SS&C: $1.29 – $1.35
Challenges Ahead
- FY 2024 Interest Expense: $442.0 – $444.0 (in millions)
- Q4 2024 Interest Expense: $110.0 – $112.0 (in millions)
- FY 2024 Capital Expenditures: 4.1% – 4.5% of revenue
- Effective Income Tax Rate: 26%
- Diluted Shares (Q4 2024): 254.6 – 255.6 million
Revenue & Expenses
Visualization of income flow from segment revenue to net income